The job cuts would be part of the group’ “weight-loss” programme for this year, the news and analytics provider reported.

The downsizing also would include staff reductions from the aviation-to-financial services conglomerate’s units, whose controlling stakes would be sold to a third party, REDD reported, without identifying those units.

A person familiar with HNA Group’s restructuring process said no such job cuts were planned. HNA Group did not immediately respond to a request for comment.